Planet Labs Correlations

PL Stock

USD 13.31 0.30 2.20%

The current 90-days correlation between Planet Labs PBC and Mercury Systems is 0.15 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Planet Labs moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Planet Labs PBC moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Planet Labs Correlation With Market

Modest diversification

The correlation between Planet Labs PBC and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Planet Labs PBC and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Planet Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Planet Labs PBC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Planet Stock

0.65	HI	Hillenbrand	Pair Corr
0.96	RR	Richtech Robotics Class Aggressive Push	Pair Corr
0.64	301053	Yoantion Industrial	Pair Corr
0.9	301070	Kale Environmental	Pair Corr
0.78	EPOW	Sunrise New Energy	Pair Corr
0.78	ERII	Energy Recovery	Pair Corr
0.81	CXT	Crane NXT	Pair Corr
0.79	DCI	Donaldson	Pair Corr
0.92	DDD	3D Systems	Pair Corr
0.82	ESE	ESCO Technologies	Pair Corr
0.68	GHM	Graham Downward Rally	Pair Corr

Moving against Planet Stock

0.89	HILTON	Hilton Metal Forging	Pair Corr
0.86	AZ	A2Z Smart Technologies	Pair Corr
0.84	600765	AVIC Heavy Machinery	Pair Corr
0.72	CR	Crane Company	Pair Corr
0.68	BRM	BioRem Inc	Pair Corr
0.64	300280	Jiangsu Zitian Media	Pair Corr
0.64	ATS	ATS Corporation	Pair Corr
0.62	600666	Aurora Optoelectronics	Pair Corr
0.58	CVR	Chicago Rivet Machine	Pair Corr
0.55	VATE	Innovate Corp	Pair Corr
0.5	HY	Hyster Yale Materials Earnings Call This Week	Pair Corr
0.89	KAI	Kadant Inc Earnings Call This Week	Pair Corr
0.83	MPU	Mega Matrix Corp	Pair Corr
0.81	DOV	Dover	Pair Corr
0.81	002757	Nanxing Furniture	Pair Corr
0.74	300275	Chongqing Mas SciTech	Pair Corr
0.71	ENW	EnWave	Pair Corr
0.52	GGG	Graco Inc	Pair Corr
0.47	ITW	Illinois Tool Works	Pair Corr
0.39	TNC	Tennant Company Earnings Call This Week	Pair Corr

Related Correlations Analysis

	MRCY	FLY	SPR	RAL	HXL	GVA	EOSE	ENS	ECG	BCO
MRCY		-0.25	-0.4	-0.37	0.54	0.64	0.76	0.9	0.8	0.82	MRCY
FLY	-0.25		0.41	-0.28	-0.27	0.47	-0.62	-0.44	-0.49	0.25	FLY
SPR	-0.4	0.41		0.12	0.09	0.03	-0.57	-0.52	-0.48	-0.14	SPR
RAL	-0.37	-0.28	0.12		-0.1	-0.49	-0.15	-0.29	-0.22	-0.56	RAL
HXL	0.54	-0.27	0.09	-0.1		0.2	0.48	0.54	0.56	0.45	HXL
GVA	0.64	0.47	0.03	-0.49	0.2		0.15	0.43	0.3	0.88	GVA
EOSE	0.76	-0.62	-0.57	-0.15	0.48	0.15		0.91	0.91	0.43	EOSE
ENS	0.9	-0.44	-0.52	-0.29	0.54	0.43	0.91		0.93	0.69	ENS
ECG	0.8	-0.49	-0.48	-0.22	0.56	0.3	0.91	0.93		0.54	ECG
BCO	0.82	0.25	-0.14	-0.56	0.45	0.88	0.43	0.69	0.54		BCO
	MRCY	FLY	SPR	RAL	HXL	GVA	EOSE	ENS	ECG	BCO

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

ECG	+ 0.93	ENS
ENS	+ 0.91	EOSE
ECG	+ 0.91	EOSE
ENS	+ 0.9	MRCY
BCO	+ 0.88	GVA
BCO	+ 0.82	MRCY

High negative correlations

EOSE	- 0.62	FLY
EOSE	- 0.57	SPR
BCO	- 0.56	RAL
ENS	- 0.52	SPR
GVA	- 0.49	RAL
ECG	- 0.49	FLY

Risk-Adjusted Indicators

There is a big difference between Planet Stock performing well and Planet Labs Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Planet Labs' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MRCY	2.10	0.44	0.23	0.24	1.96	(2.42)	4.44	(3.53)	36.07
FLY	4.47	(0.63)	0.00	(2.85)	0.00	0.00	9.00	(15.31)	54.78
SPR	1.07	(0.12)	0.00	(0.05)	0.00	0.00	2.51	(2.07)	7.51
RAL	1.56	(0.24)	0.00	(0.08)	0.00	0.00	2.62	(3.27)	9.31
HXL	1.41	0.19	0.15	0.21	1.17	(1.65)	2.96	(2.28)	8.72
GVA	1.09	0.06	0.04	0.16	0.99	(1.25)	2.34	(1.95)	10.34
EOSE	4.74	1.25	0.33	0.44	3.76	(6.28)	11.84	(5.60)	38.85
ENS	1.35	0.26	0.21	0.24	1.16	(1.64)	3.36	(2.46)	8.55
ECG	2.30	0.17	0.10	0.14	2.67	(2.61)	5.13	(4.86)	16.01
BCO	1.26	0.27	0.24	0.29	0.87	(1.52)	2.86	(1.97)	15.36

Planet Labs Corporate Management

Brian Hernacki	VP Software	Profile
Kristi Erickson	Chief Officer	Profile
Robert Schingler	Chief CoFounder	Profile
Andrew Zolli	Chief Officer	Profile
Tramayne Whitney	Chief Officer	Profile
Donna Prlich	Chief Officer	Profile
Amy Keating	Chief Secretary	Profile

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